NEW YORK, NY February 25, 2009 —Bloggers, Facebookers and Twitterers are assessing the state of the New York blogosphere.

Some say their balance sheets are are suffering. But panelist Nicholas Carlson of www.businessinsider.com points to the web site Mashable.com as an example of how new media can prosper. He says ad revenue may be way down.

CARLSON: but they’re doing reasonably well, I think, because they’ve been nimble, and they have found a way to sell products, That isn’t necessarily advertising - an event like this - you know, selling tickets at the door.

REPORTER: Organizers of last night's event say even during a recession, it seems people will pay $10 to network. Caroline McCarthy of "www.cnet.com" was on last night's panel. She says New York blogs have an advantage.

MCCARTHY: there’s such a legacy of the media industry- there’s less of an impetus to just subvert the old order. We have that international news media - right here - where we can look at what they’ve done well and what they haven’t done well.

REPORTER: The web site Mashable.com and the arts group the 92nd Street Y hosted last night's event in Tribeca, and will host another- on how to build a successful start-up, on April 28th.